BRIGHTWOOD

Hampstead acquired Concord Apartments, Valencia Apartments, Vizcaya Apartments in Washington, DC in 2014 and financed the 130 units with short term financing from Citi Community Capital, Affordable Investment Advisors, DHCD and LISC until the permanent financing was successfully put in place in January 2015.

Rebranded as The Brightwood Portfolio Hampstead budgeted $10 million for improvements. In additional to an overall rehab, 10 market rate units will be added to the current unit mix bringing the total unit count to 140-units, 126 of which will serve families at or below 60% AMI and 14 of which will serve market rate families. Hampstead partnered with NixDevCo and the Tenants Associations to acquire the project in 2015. Financing includes tax-exempt bonds, LIHTC, historic tax credits and a soft loan from the Department of Housing and Community Development (DHCD).